Barrick Mining Settles Newmont Nevada Dispute for $1.95 Billion, Clearing Way to List its Gold Assets — 2nd Update

By Adriano Marchese

Barrick Mining has settled a long-standing dispute with rival Newmont over their Nevada operations, securing a $1.95 billion cash payout and paving the way for Barrick to publicly list its North American gold assets.

The deal resolves governance disputes stemming from the 2019 creation of the Nevada Gold Mines joint venture, which the two mining majors established after Barrick dropped an $18 billion hostile takeover bid for Newmont.

With the settlement behind them, Barrick can now move forward with an IPO of its gold portfolio. The miner's board approved plans to list a minority stake in its flagship gold assets in February, clearing the way to bundle its prime assets into a standalone company, holding nearly 100 million ounces of gold.

In April, Barrick said it has identified what it believes to be the optimal structure for a separate listing of the assets, including a primary listing in New York and a secondary one in Toronto. Through the IPO, Barrick expects to accelerate momentum for operations that have been delivering strong results, by giving North American Barrick a dedicated management team.

The new company will be anchored by Nevada Gold Mines, a major operation that spans a complex of underground and open-pit mines, mills and other facilities, alongside the Pueblo Viejo mine in the Dominican Republic and the wholly owned Fourmile discovery in Nevada, which Barrick calls one of the century's most significant gold finds.

Together, these core properties accounted for over 60% of Barrick's total production last year, yielding roughly 2 million troy ounces.

Shares of Barrick fell in premarket trading, and were down 6.5% at $40.85. Newmont shares were up 1.9% at $115.11.

The settlement news follows Barrick's second-quarter results, where the company logged higher profit on the back of soaring commodity prices.

Commodity prices have enjoyed a strong run up in recent months. Gold, in particular, has benefited from strong central bank purchasing amid escalating geopolitical tensions, while copper has seen strong demand from tech investments into artificial intelligence infrastructure build-outs, such as data centers and electrical grids, and a global energy transition.

Barrick logged a 44% rise in revenue to $5.29 billion, largely due to higher gold and copper prices in the quarter. The dynamic drove net income to rise to $1.22 billion, or 73 cents a share, up from $811 million, or 47 cents a share, in the comparable quarter a year ago.

Barrick produced 796,000 ounces of gold in the period, similar to a year earlier but ahead of its own guidance range. Copper production fell 5% from the prior-year period to 56,000 metric tons in the period.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

August 10, 2026 09:36 ET (13:36 GMT)